PNB Holdings to add retail, dining spaces at Makati property

PNB HOLDINGS Corp. (PHC), the real estate arm of Philippine National Bank (PNB), said it plans to add more retail spaces at PNB Makati Center to support demand from corporate, wellness, and lifestyle tenants.

In a statement on Tuesday, the company said it is converting a portion of the ground floor of PNB Makati Center along Ayala Avenue to accommodate food and beverage (F&B) and retail concepts.

“With a solid tenant pipeline strengthened by wellness providers, service-oriented businesses, and upcoming dining concepts, PHC expects sustained demand for retail spaces into 2026,” the company said in a statement on Tuesday.

The company said the move comes as Ayala Avenue, at the heart of the Makati central business district (CBD), continues to evolve into a more lifestyle-driven and experience-oriented hub.

“As the Makati CBD continues to modernize, PHC remains committed to developing future-ready spaces that support the district’s progressive transformation and elevate the overall tenant experience,” it added.

The latest data from real estate services firm CBRE Philippines showed that in Makati City, about 36% or 136,028 square meters (sq.m.) of office supply is aged 10 years and older, 32% or 117,869 sq.m. is aged six to 10 years, while 32% or 119,598 sq.m. is less than five years old.

PNB Makati Center has maintained a 94% occupancy rate, PHC said.

The entry of new tenants such as homegrown fitness brand BeFit and Maxicare Healthcare Corp. aligns with the growing demand for health-oriented amenities in modern workplaces, the company said.

PHC also owns two other prime assets — the PNB Financial Center in Pasay City and a high-value commercial lot along Buendia Avenue corner Paseo de Roxas. — Beatriz Marie D. Cruz